The 10 biggest challenges in managing your stock

Research consistently shows that having too much or too little inventory can be extremely costly. Does your company maintain inventory? Discover the key pitfalls to avoid here.

1. Inventory items lack labels or barcodes.
Almost every warehouse has started the process of labeling items with stickers. However, without a proper plan and the right tools, this endeavor is often doomed to fail. Boxes are swapped, different items are placed in the wrong boxes without changing the label, and the item descriptions are often vague or completely incorrect. The result is a warehouse filled with labels that are simply not being utilized.

You're familiar with them. The shelves in the back where items are covered in a thick layer of dust. Only the warehouse manager catches a glimpse of them every now and then, but for the rest of the organization, they remain invisible.

Imagine a scenario where a crucial machine suddenly breaks down, and you urgently require a specific component to fix it. You rush to the designated storage area, only to find it empty. The last available piece had been used, and unfortunately, no one bothered to communicate the need for a replacement.

This is likely the biggest cost for companies that hold inventory. Standard settings don't take consumption into account, resulting in the inventory of low turnover items continuing to grow. Sometimes, items that aren't even being consumed are reordered.

When the exact location of items is unknown, it presents several challenges. Firstly, there is the obvious issue of not being able to find an item when you need it. And when it comes to storing these items, you encounter the same problem: the designated spot for the ordered item cannot be located. As a result, items end up haphazardly placed on the shelf.

This is precisely what happens when there is no organization in the placement of items: the same items end up in different locations. When items are being put away, they are simply placed wherever, exacerbating the problem. The result: excessive inventory and unnecessary high costs.

Everyone has access to the warehouse and takes the items they need. Sometimes there is a stock list and in some cases, items can even be scanned out. However, in practice, people often forget or simply don't want to make the extra effort.

There are numerous systems available that assist in managing inventory. However, many of them require extensive preparation and a complicated implementation process. These so-called "simple" systems often fall short because they lack the functionality that employees require. As a result, the system is often misused or even completely ignored.

Who hasn't experienced this? The person in charge of managing inventory and placing orders doesn't work full-time. Or they might be on vacation for a while. And to make matters worse, they often have their own unique 'system'. During vacations or absences, there is usually no replacement, resulting in incorrect or even missed orders.

There are few items that have an eternal lifespan, so replacement from time to time is necessary. However, it is crucial for users to be aware of this. Often, apart from the article number, the specifications can be slightly different as well.

That's why we created BarTrack Inventory Manager. It's a single solution that allows you to effortlessly manage your inventory and easily place orders with all your favorite wholesalers. Simply online, without the hassle of complicated software installations. And best of all, it's completely free!

Interested? Give Bart Grol a call.